Connect with us

Business

Minergy upbeat on Masama project

Published

on

… More coal resources are discovered

….Production to start next year

Botswana Stock Exchange (BSE)-listed Minergy Limited has announced that drilling and exploration conducted at its Masama Coal project during 2017 had established a significant increase in the size of the coal reserves. The recent Competent Persons Report (CPR) found that the quality of the coal was also better than previously indicated. “Comparing the 2016 and 2017 estimates, the total coal resource for the project area increased from 347.1 Mt to 389.9 Mt, an improvement of 12 percent.

“Of this, the opencast area has increased from 71.2 Mt to 82.3 Mt, which translates into 25 years of opencast operations,” said Minergy CEO, Andre Bojé, adding that management was exceptionally pleased with the revised CPR and especially the improved yields. This is good news for the company, which listed on the BSE in April 2017 and plans to build an opencast coal mine at Masama with the potential to produce 2,4 Mt per annum.

The company will focus on delivering high-quality coal to the regional market, including Botswana and South Africa as well as to the export market. The Masama Coal Project, located in the south-western corner of Botswana’s Mmamabula coalfield is near to existing rail, road and water infrastructure. It also has significant distance advantages over existing competing suppliers to regional customers, which attributes offer great potential for the southern African region and the export market.

The size of the resource also supports scalable production, presenting an opportunity to provide export coal to traders who supply India, China, and other areas of Asia, as well as Europe, should international coal price remain stable. Bojé stated that for the first time a measured resource was declared totalling 12.7 Mt and the overall indicated resource increased from 61.7 Mt to 73.2 Mt, a 19 percent increase.

“The exploration programme vindicates our decision to focus on a reduced area of the overall prospecting area with a view to a long-term project supplying the regional market and ultimately the seaborne thermal coal market.” While average raw coal qualities for the project remained similar, inherent moisture was notably lower and the A Seam in the underground areas showed considerably improved qualities. Bojé said that theoretical yields of the primary product were considerably improved where the theoretical yield improved from 63 percent to 66.4 percent. Minergy will be the second producer of coal in Botswana, and is committed to being on the forefront of developing a vibrant coal industry in the country. “All our timelines for the project have now been met and we are confident of being in production in the third quarter of 2018,” concluded Bojé.

Continue Reading
Comments

Business

OLOPENG HEAPS PRAISE ON BSE FINANCE CHALLENGE

Published

on

Minister Thapelo Olopeng

Botswana Stock Exchange’s annual finance and investment competition for secondary school students has been applauded by the Minister of Tertiary Education, Research, Science and Technology, Thapelo Olopeng.

The initiative, a capital market awareness tool that has been running for the past seven years, is increasing financial literacy and a culture of investment among young people. The initiative will see the country raise future billionaires through the stock markets. “It is a breath of fresh air to have tertiary students who are financially literate, who can manage their finances,” said the minister.

He urged students to invest even the smallest allowances they earn and have a hassle-free life after university. “Investing on the stock exchange is not only preserved for the rich, but for anyone with a bank account,” said Olopeng.

The minister said the secondary schools finance and investment competition is participation of the private sector in bridging the knowledge divide.Olopeng said the private sector participation augments his ministry’s efforts of providing and building knowledge and innovation through the development and implementation of the policy on tertiary education, research, science and technology to transform the economy from a resource based to a knowledge based.

“In this connection, we will continue to empower our students in order for them to lead better and successful lives which can propel them into the innovation ecosystem,” said Olopeng. BSE Chief Executive Officer, Thapelo Tsheole said the Senior Secondary Schools Finance and Investment Competition, first established in 2013 aims to sensitise and educate the student community about capital markets, with the strategic aim to increase financial literacy and promote a culture of investing at a young age.

The competition is open to all senior secondary schools across the country, including private and public senior secondary schools.

Continue Reading

Business

WE ARE NOT USING DIAMONDS TO KILL ELEPHANTS, THAT’S HOGWASH! – BOTSWANA MINISTER

The MidweekSun Admin

Published

on

Orapa Mine, part of Debswana

Botswana is not using diamonds to kill elephants as alleged by some conservationists after the southern African country announced plans to lift a ban on elephant hunting to address growing conflict between humans and wildlife, a government official has said.

Minister of mineral resources, Green technology and energy security Eric Molale told a mining conference in Gaborone on Monday that the activists were tarnishing the image of Botswana. “That’s hogwash because we as Botswana are [good] conservationists and it is us who worked hard to make sure these elephants [are] brought to the numbers that we do have now,” he said.

“When conflicts arise, it is through consultation, [that we] find out how we can best manage our resources. The people have spoken and we are going to be managing the elephants in the best way that we can.

“We are not culling, we have re-introduced the trophy hunting and if you take 400 elephants per annum for trophy hunting against the 3-5% annual growth rate of the elephant herd that we have…[we are] just barely scratching on the surface.”

Botswana has about 130 000 elephants, the world’s largest population.Molale said Botswana will remain focused on things that are beneficial to the country and will not be distracted by issues spread by people that are not even privy to how things are done in the country.

“We have, however, invited them to come and learn more about what we are doing so they can better understand those important aspects of flora and fauna…”The conflict between humans and elephants had gone up since the ban was introduced in 2014.

Tourism is the second source of foreign income in Botswana after diamonds and conservationists fear that the former will be affected is the government cull elephant.
[Rough and Polished]

Continue Reading

Trending